The law on Ukraine’s accession to the statute of the International Renewable Energy Agency (IRENA) is coming into force today.

According to the explanatory note, the membership of Ukraine in the IRENA: will allow applications to the ADFD fund to receive preferential loans (currently, the fund’s budget is $ 350 million, loans are provided on a competitive basis for 1-2% for a period of up to 20 years, including a 5-year grace period, subject to 50/50 co-funding ); provide access to all information available in the IRENA Agency regarding the use of renewable energy sources, the results of the latest research and best practices, as well as progressive mechanisms for financing alternative energy development;will facilitate the establishment of fruitful cooperation between Ukraine and the developed countries of the world in order to develop alternative energy; create conditions for attracting expert assistance from the IRENA Agency to improve the regulatory and legal framework of Ukraine in the field of renewable energy.

At the same time, Ukraine will be obliged to pay annual membership fees to the budget. So, the contribution for 2017 could roughly amount to 23 thousand dollars.